A culture of innovation empowers people to quickly adapt services, products and processes to meet the changing needs of clients and internal requirements.
No matter what a business does, the performance of its people determines its destiny. During good times, badly run businesses can survive and even grow. As the saying goes, “A rising tide lifts all boats.” When the economic tide goes out, however, these businesses are certain to be left high and dry.
By contrast, businesses that quickly and effectively adapt to evolving client and organizational needs will survive lean times and, in many cases, thrive. This process of rapid innovation gives companies a better chance of emerging from a recession stronger and more profitable than before.
What follows are some do’s and don’ts for fostering innovation.
When people have a common belief system and clear vision of the corporate mission, great things can happen, even during a recession. Try these strategies:
Establishing a culture of innovation is not something that happens overnight with a couple of quick meetings or a team retreat. Here are some mistakes to avoid:
Within an innovation culture, creative thinking and action are promoted through personal accountability at every level of the organization, within boundaries that are clearly understood. People are energized by the knowledge that they can make a difference to the clients and the overall success of their organization. With this kind of energy, your organization will not only survive an economic downturn, but it is certain to emerge stronger when it is over.
When people have a common belief system and clear vision of the corporate mission, great things can happen.
Mike Taylor, founder and CEO of Innovative-e, is a global entrepreneur, business consultant and certified Project Management Professional.